Governor Ademola Adeleke on Wednesday presented the 2026 budget to the state’s House of Assembly totalling Seven Hundred and Five Billion (₦705 Billion) with Fifty Five percent (55%) for capital expenditure and Forty Five Percent (45%) for recurrent expenditure.
The Governor accompanied by top administration officials, christened the document budget of economic transformation.
Adeleke said the administration has attained a remarkable milestone in implementing the 2025 Budget. However, he did not disclosed the percentage attained so far.
The Governor spoke further on the details of the budget 2026: “The total Revenue consists of Recurrent Revenue, where Government Share of FAAC is Two Hundred and Twenty-One Billion, Six Hundred and Eighty Million Naira (₦221,680,000,000.00) and Independent Revenue is One Hundred and Ninety-Nine Billion, Five Hundred and Seventy-Three Million, Two Hundred and Twenty-Nine Thousand, three Hundred and Twenty Naira (₦199,573,229,320.00).
“ Th other receipts are Two Hundred and Sixty-Eight Billion, Three Hundred and Forty-Eight Million, Five Hundred and Eighteen Thousand, Eight Hundred and Sixty Naira (₦268,348,518,860.00).
“The Expenditure comprises of Recurrent Expenditure of Three Hundred and Seventeen Billion, Four Hundred and Fourteen Million, Three Hundred and Fifty-Three Thousand, Three Hundred and Fifty Naira (₦317,414,353,350.00), which is 45% of the total budget.
“Recurrent Expenditure is divided into Personnel Cost of ₦135,005,722,430.00. and Overhead Cost of ₦182,408,630,920.00 made up of Salaries and Allowances as well as Pensions and Gratuities. The Capital Expenditure has the total sum of ₦388,379,695,320.00, which is 55% of the total budget.
“The 2026 Budget Proposal is prepared on the projection of the 2026 – 2028 Medium – Term Expenditure Framework (MTEF) as required by the Osun State Fiscal Responsibility Law 2012”, the governor noted.
Welcoming the governor earlier, the House Speaker, Adewale Egbedun praised the governor for his transparency, prudence, and accountability in the management of state finance and resources, pleading the support of the legislature for the executive arm in the running of the back.
“The implementation of previous budgets, particularly the 2024 and 2025 plans, has produced measurable outcomes in infrastructure, education, healthcare, social inclusion, and workers’ welfare. These successes are evidence of a government determined to turn policy into tangible benefits for the people.
“Your Excellency has displayed exceptional leadership, wisdom, and composure in navigating the State through challenging periods. The House notes with appreciation your restraint, diplomacy, and dedication to peace during the Local Government administration disputes, which, if mishandled, could have undermined stability.
“Your approach, grounded in fairness, dialogue, and the rule of law, demonstrates statesmanship of the highest order. I would also like to highlight and commend your prudence in financial management, especially under the constraints arising from the withholding of Local Government allocations by the Federal Government since March 2025.
“Despite these challenges, your administration has consistently met its obligations, maintained developmental projects, and safeguarded workers’ welfare – a testament to visionary and responsible leadership”, the Speaker noted.
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